Air India plans to raise $4 billion for operational revamp

Air India is planning to restructure its finances and revamp its operations as a part of its strategic expansion plan. According to the sources, TATA Group-led Air India is planning a cash infusion of $4 billion to lease new aircraft, expand operations, and clear previous debt. Although there is no official statement by the airline or Tata Group, sources close to the airline have confirmed that the money will be used to revamp the airline and clear some of the pending debts of Air India. Going ahead the airline is planning to lease 30 new aircraft including 5 widebody Boeing